Financial and Banking News
BUDGETS AND REVENUES
UAE Adopts Temporary 1989 Budget
The Federal Government of the UAE last week continued with its traditional practice of approving temporary spending allocations for the current fiscal year on the basis of a monthly budget equal to one twelfth of the 1988 budget. Last year's budget was finalized on 31 October, and envisaged total expenditure of Dh14,255.3mn ($3.9bn) on the basis of revenue of Dh12,420.6mn ($3.4bn)....